GSK exceeds earnings expectations despite sales falling short By Reuters

(Reuters) -GSK topped analysts’ expectations for first-quarter earnings as more people visited clinics for critical treatments such as HIV and routine shots once COVID-19 curbs eased, adding on Wednesday that plans to split into two were “well underway”.

Turnover for the three months to March fell 15% to 7.42 billion pounds ($10.28 billion) at constant currency rates, while adjusted earnings stood at 22.9 pence per share, GSK, the world’s biggest vaccine maker by sales, said.

Analysts had expected adjusted earnings of 21.9 pence per share and sales of 7.83 billion pounds, a company-compiled consensus https://www.gsk.com/en-gb/investors/analyst-consensus/analyst-consensus of 17 analysts showed.

GSK said it would provide details on its plan to separate into an over-the-counter products business and another for prescription medicines and vaccines in June.

($1 = 0.7215 pounds)